Dogecoin (DOGE/USD) Price Hits Rejections, Finding $0.07 Tough
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Dogecoin Price Prediction – July 3
Buyer reactions in the DOGE/USD trade operations have again been checked as the crypto-economic market resets for rejections after finding the $0.070 tough to breach northward.
In the wake of that situation holding at this moment, the exchanging of transaction processes between buyers and sellers has resulted in value lines of $0.0687 and $0.0673 at a negative average percentage rate of 0.44. The general technical picture at this point in the analysis indicates that if no consolidation-moving style is presented by long-position takers from around its current trading line, some levels of drop will prevail over other directions following.
DOGE/USD Market
Key Levels:
Resistance levels: $0.075, $0.080, $0.085
Support levels: $0.060, $0.055, $0.050
DOGE/USD – Daily Chart
The DOGE/USD daily showcases the crypto-economic market reset for rejection, denoting another round of its kind after finding the $0.070 tough to break further to the upside.
The 14-day SMA indicator is at $0.0663, below the $0.0718 value of the 50-day SMA indicator. There has been the drawing of three different horizontal lines marking the range-bound zones in two variant layers of $0.080 to $0.070 and $0.070 to $0.060 in that order. The $0.070 has been the mid-point range zone. The Stochastic Oscillators are in the overbought region, maintaining levels between 86.51 and 92.95. And they are seemingly attempting to close at those points.
Should buyers disobey the rule of waiting for further patterns that would indicate a decrease in velocity at the downside of the DOGE/USD price’s current trade point?
Long positions with low volume of equity are to be put off for a while to probably get another reading of the technical angle of analysis to suggest a loss or reduction toward getting more lows in the DOGE/USD market as the crypto economy resets for rejections, finding the $0.070 tough to breach.
At this moment, the activities of buyers are risking a moment of prolonging in the well-defined range bounds to cause a doubt of when it will be ripe for resumption of price upsurges afterward. The lower range line of $0.060 will be the critical zone of the buying order executions.
There will be a need for short-position takers to get positioned once there is an occurrence of active price action toward creating a falling force around the $0.070 line. They have to be strategic in their approach by determining the level of their stop-loss order immediately after their shorting order is executed to guard against any unwanted loss that might come in the long run.
DOGE/BTC Price Analysis
In comparison, the Dogecoin market resets for rejects, finding the further northward break around the trend line of the smaller SMA tough against Bitcoin.
Underneath the 50-day SMA indication is the 10-day SMA indicator. Additionally, they are both heading south, which indicates that the cryptocurrency pairing process is largely under selling pressure. The Stochastic Oscillators have penetrated the overbought region, keeping the levels from 86.04 to 93.89. That portends that the base crypto has not gotten enough strength to decimate the impact of its counter-trading crypto at this time.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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